Salesforce, Inc. (NYSE:CRM) Shares Sold by Quantum Private Wealth LLC

Quantum Private Wealth LLC lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,348 shares of the CRM provider’s stock after selling 136 shares during the period. Salesforce accounts for approximately 0.7% of Quantum Private Wealth LLC’s investment portfolio, making the stock its 29th biggest position. Quantum Private Wealth LLC’s holdings in Salesforce were worth $1,670,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Scissortail Wealth Management LLC purchased a new stake in Salesforce during the 4th quarter valued at about $978,000. Tyche Wealth Partners LLC purchased a new stake in Salesforce during the 4th quarter valued at about $673,000. Arbor Trust Wealth Advisors LLC grew its stake in Salesforce by 1.5% during the 4th quarter. Arbor Trust Wealth Advisors LLC now owns 6,292 shares of the CRM provider’s stock valued at $1,656,000 after acquiring an additional 90 shares in the last quarter. Avior Wealth Management LLC grew its stake in Salesforce by 2.5% during the 4th quarter. Avior Wealth Management LLC now owns 18,246 shares of the CRM provider’s stock valued at $4,801,000 after acquiring an additional 438 shares in the last quarter. Finally, Allen Capital Group LLC purchased a new stake in Salesforce during the 4th quarter valued at about $243,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 1.7 %

NYSE:CRM traded up $4.51 during midday trading on Wednesday, hitting $277.41. 7,624,347 shares of the company were exchanged, compared to its average volume of 4,686,930. The company has a fifty day simple moving average of $298.35 and a 200 day simple moving average of $260.79. Salesforce, Inc. has a fifty-two week low of $190.57 and a fifty-two week high of $318.71. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $269.09 billion, a PE ratio of 66.05, a price-to-earnings-growth ratio of 2.10 and a beta of 1.28.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the firm posted $1.01 EPS. Salesforce’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

Insider Activity

In other news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $274.01, for a total value of $4,110,150.00. Following the sale, the chief executive officer now owns 13,761,166 shares of the company’s stock, valued at $3,770,697,095.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Sundeep G. Reddy sold 216 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the sale, the chief accounting officer now owns 2,869 shares in the company, valued at $799,618.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $274.01, for a total transaction of $4,110,150.00. Following the completion of the sale, the chief executive officer now owns 13,761,166 shares of the company’s stock, valued at approximately $3,770,697,095.66. The disclosure for this sale can be found here. Insiders have sold a total of 897,375 shares of company stock valued at $260,206,096 over the last quarter. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CRM shares. Truist Financial reaffirmed a “buy” rating and set a $360.00 price objective (up previously from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. Stifel Nicolaus reissued a “buy” rating and issued a $350.00 price target on shares of Salesforce in a research note on Wednesday, April 3rd. Bank of America increased their price target on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $350.00 price target (up previously from $325.00) on shares of Salesforce in a research note on Friday, April 12th. Finally, Oppenheimer increased their price target on shares of Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Monday, February 12th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $307.87.

About Salesforce

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.